- January 30, 2024
Starbucks is seeing its artificial intelligence data efforts boost its rewards program effectiveness, incentivizing consumers to spend more and visit more often.
On a conference call Tuesday (Jan. 30) accompanying the ...
- January 29, 2024
America’s credit card companies ended December with delinquencies and charge-off rates essentially unchanged from November.
And as a Monday (Jan. 29) Seeking Alpha report notes, the average rates of charge-offs and ...
- January 16, 2024
As earnings season rolls on, key themes from banks are emerging.
Consumers are continuing to engage with their banks via mobile means, and branches are being woven tightly into the fabric ...
- January 15, 2024
The initial headlines and initial takes on big bank earnings may have focused on the state of the consumer, on card spending, especially.
But there’s data to be gleaned for the ...
- January 12, 2024
Bank of America’s digital evolution continues.
The company posted December quarter results that showed digital volumes are on the upswing, as active digital users topped more than 46 million, up 4.5% from ...
- January 11, 2024
Every three months, like clockwork, the earnings roll in.
And every three months, the big banks usher in the “official” start of earnings season.
Will it all begin with a bang or ...
- January 9, 2024
Bank of America has debuted an analytics tool for its CashPro digital banking platform.
CashPro Insights, announced Tuesday (Jan. 9), is designed to let the bank’s corporate and commercial clients glean insights that help ...
- December 20, 2023
The cryptocurrency industry’s lobbying efforts over the regulation of stablecoins reportedly saw an increase in spending throughout 2023.
Stablecoins, which serve as a bridge between the crypto and traditional financial systems, ...
- December 20, 2023
The year is 2023, almost 2024, and we are decidedly in the digital era.
After all, things like artificial intelligence (AI), space travel, gene-editing, and more are all commercially available and ...
- December 20, 2023
Irfan Ahmad, managing director and head of U.S. payments GTS at Bank of America, said instant payments will get a lift from some of the most basic, proactive approaches from ...
- December 18, 2023
Card delinquencies and charge-offs offer evidence of the struggles of meeting current obligations.
They can also be a harbinger of spending slowdowns in the future.
The latest data from credit card giants, ...
- December 17, 2023
Both American Express and Bank of America saw credit card delinquencies climb last month.
According to a recent Securities and Exchange Commission filing, American Express’ delinquency rate rose from 1.3% in October to 1.4% at the ...
- December 5, 2023
Bank of America CEO Brian Moynihan said Tuesday (Dec. 5) that there are signs of the economy slowing down but expressed optimism that it will experience a soft landing rather than a recession.
Money ...
- December 4, 2023
Bank CEOs are set to appear before the Senate Banking Committee to protest new regulations and capital hikes, arguing that these measures will harm the economy.
The CEOs of major banks, ...
- November 29, 2023
How do you turn payments pain points into payments possibilities?
It’s a simple formula: Add automation.
“More and more organizations are recognizing the need to update and modernize what has historically been ...
- November 28, 2023
The Consumer Financial Protection Bureau (CFPB) ordered Bank of America to pay $12 million for submitting incomplete mortgage lending data to the federal government.
Hundreds of the bank’s loan officers failed ...
- November 20, 2023
Citi Mobile made moves in this edition of PYMNTS’ Provider Ranking of Credit Card Apps.
Venmo, which was previously No. 1, fell to make room for more competition between Citi Mobile, ...
- November 16, 2023
America’s banking giants are reportedly on the hook for replenishing the government deposit insurance fund.
The Federal Deposit Insurance Corp. (FDIC) is going to approve a proposal Thursday (Nov. 16) that ...
- November 15, 2023
Bank of America has debuted tools to help customers complete and finance online car purchases.
Clients can now become prequalified for auto financing to find out how much they may be able ...
- November 13, 2023
Banks that use payment app Zelle have reportedly started refunding customers victimized in imposter scams.
According to a Monday (Nov. 13) report by Reuters, Zelle operator Early Warning Services (EWS) says the 2,100 firms on ...
- November 13, 2023
In this environment of “higher for longer” interest rates, chief financial officers recognize the need to prioritize payments innovation.
As Bank of America Head of Global Payments in Global Transaction Services ...
- November 8, 2023
Bank of America CEO Brian Moynihan is reportedly optimistic about the U.S. economy and the bank’s growth prospects.
Speaking Wednesday (Nov. 8) at the Reuters NEXT conference, Moynihan said he believes that the economy will experience ...
- November 3, 2023
The Clearing House has reportedly said that it is not aware of any ongoing issues after a narrow processing error that affected deposits and transfers at some banks.
Bank of America had sent ...
- November 1, 2023
The only constant is change, and the only necessity is adapting to it.
This adage is particularly true within the global digital payment collection and bill presentment services ecosystem.
“It’s no surprise ...
- October 27, 2023
In the parlance of these times, and as earnings season commentary has pointed out, time and again:
Consumer credit is normalizing.
The question remains, however, as to what comes next.
The slew of ...
- October 25, 2023
It’s been nearly a year since seven banking giants helped Elon Musk buy Twitter.
Now, those lenders are dealing with the impact of that decision on their balance sheets, The Wall Street ...
- October 19, 2023
Truist says it is seeing a jump in digital engagement as it continues its cost-cutting measures.
Speaking during an earnings call Thursday (Oct. 19) CEO Bill Rogers said the regional lender’s digital transactions jumped 9% year ...
- October 17, 2023
Bank of America’s earnings showed a continued surge in P2P volumes, as Zelle transactions climbed double digits, measured year over year.
As noted in presentation materials released Tuesday (Oct. 17), the bank ...
- October 17, 2023
For many Americans, having fun has apparently become a source of financial stress.
As The Wall Street Journal (WSJ) reported Tuesday (Oct. 17), ticket prices for concerts, sporting events and theme park admissions ...
- October 13, 2023
Machines don’t dream of electric sheep, but they can help predict where they’d flock.
That’s because generative artificial intelligence (AI), where bytes meet brains, is increasingly helping organizations of all sectors ...
- October 11, 2023
Surprise overdraft and nonsufficient funds (NSF) fees account for a significant portion of the refunds to consumers by companies announced Wednesday (Oct. 11) by the Consumer Financial Protection Bureau (CFPB).
These ...
- October 11, 2023
Artificial intelligence (AI) is predicted to have a significant economic impact, potentially reaching $15.7 trillion by the end of the decade, according to Bank of America.
This emerging technology is expected to ...
- October 9, 2023
The big U.S. banks are reportedly facing a slowdown in lending growth due to rising interest rates, and it is expected to hurt their profits.
Net interest income, a key driver ...
- October 5, 2023
IBM’s artificial intelligence (AI) projects are reportedly set to contribute to its continuing turnaround.
Bank of America has reiterated a Buy rating on IBM’s stock, highlighting the company’s defensive portfolio, attractive ...
- September 27, 2023
Bank of America Chairman and CEO Brian Moynihan reportedly said he believes that the economy is heading toward a soft landing, avoiding a recession.
Speaking Wednesday (Sept. 27) at the Economic Club ...
- September 25, 2023
In June of 2014, Amazon launched the Fire phone. Priced at $650 and offered exclusively by AT&T, the phone’s big selling point was its “Dynamic Perspective” — a feature that ...
- September 21, 2023
PYMNTS’ Provider Ranking of Credit Card Apps tracks the ever-changing landscape of credit card mobile applications each month. In the latest edition, ties from last month have parted ways, and ...
- September 19, 2023
The rising use of prescription drug discount cards is reportedly leading to significant implications for pharmacy chains.
These discount cards, such as those offered by GoodRx, are negatively impacting the margins of ...
- September 19, 2023
Industries are defined by what customers do, not what companies produce.
And if something doesn’t scale up across a global audience, then it isn’t worth much.
That’s why, as more small- to medium-sized businesses ...
- September 18, 2023
As the finance industry becomes increasingly digital, financial institutions (FIs) are recognizing the potential of artificial intelligence (AI) assistants to automate tasks, improve customer experiences, and empower finance teams to ...
